The entire US domestic and import steel markets are standing at a virtual halt in advance of the announcement of the findings in the Section 232 investigation. Should the US Department of Commerce move to implement tariffs against all steel imports, US domestic steel mills are expected to announce industry wide price increases.
If the recommendation is to do nothing against imports, there is concern that current spot market prices could fall, due to unexciting order activity and lead times that still leave a lot to be desired. Until the announcement is made, sources say, the market will remain in a holding pattern.
In terms of current offers, the most commonly heard price for US import API-X52 ERW line pipe from Mexico in the US domestic market is still being heard at $49.50-$51.50 cwt. ($1091-$1135/mt or $990-$1030/nt), FOB Houston; pricing for Korean API X-52 line pipe in the US domestic market is also unchanged, week-on-week, at $42.50-$44.00 cwt. ($937-$970/mt or $850-$880/nt), DDP loaded truck in US Gulf coast ports. Interest, however, remains light.